Ecosystems Essay Example | Topics and Well Written Essays - 500 words

Ecosystems - Essay Example In 1994 it was discovered that Lake trout had been illegally introduced into the Yellowstone Lake (Varley & Schullery, 1995). The economic losses are also astounding. It is estimated that if the lake trout are not controlled then there would be an economic loss of $685 million by 2025. Changes in fishing regulations have restored numbers of population however it is thought that the only way to save the service is to control the lake trout. There have been many suggestions for example it has been suggested that this can be done through Status Quo Angling which means killing any caught trout and reporting it to the park authorities, killing the embryos of lake trout has also been another suggestion along with the use of sterile male Lake Trout being introduced to the lake and the use of trap nets however the cost of this is high (McIntyre, 1995). It can be concluded that in order to maintain control an aggressive program must be in place but the likelihood of irradiation of Lake trout is low but can be reduced which will ensure that ecotourism and sports can continue as a recreational and cultural ecosystem service. MCINTYRE, JOHN D. (1995) Review and assessment of possibilities for protecting the Cutthroat Trout of Yellowstone Lake from introduced Lake Trout.

Economic system Essay Example for Free

Economic system Essay In our present time , there are many speculation spoken by different people, regarding the implementation of the new Curriculum , K to 12. There are many question still hanging on ,Is it the solution to our poverty , underemployment and unemployment.? Does K to 12 curriculum basically enhance our students knowledge? Does this curriculum eliminates at lessen poverty in our country. Our DepEd Secretary, Bro. Armin A. Luistro, FSC, starting whenhe became an Education Secretary, He is trying to change the traditional way of teaching, trying to resolve different problem, control and motivates the teachers, students , parents and government officials to cooperate in order to help our students to be competitive enough. In his Declaration of State of Philippine Education, he emphasize the trend and issues in Education System in: a. Philippine Education is under in Chronic Illness b. Regression in Access c. Bureaucratic Melee d. Appropriations allotted I n Education e. On the need of Reform f. The Join Forces of 3 Agencies in Government. The DOLE, TESDA, and CHED. g. The Idea of EFA 2015 and Millennium Development Goals, 1. The Philippine Education is under in chronic illness He said that our country is under the chronic illness , it is because the system in our country is suffering from different crisis, not only come from economic problem, but most probably in political system. In this country, Our governmentalways change our curriculum from time to time, for them we must faced the reality and we must adapt the changes but the  mere fact is , they don’t even support that particular in terms of facilities, tools, books and other school materials, that’s why our curriculum is only a Trial-Error set up. Inother aspects the reason why we still in the last in terms of Education it is because of corruption and political problems. 2. Regression in Access The main problem in our country is the lengthof Basic Education in Elementary and Secondary, this is only 10 years, unlike to other country which is 12 years. This is the reason why Filipino did not get the appropriate job on other country, 3. Bureaucratic Melee In this case, we can say that the cultural aspects of the society are the big problem. Despite of financial and economic crisis happen in our country, they questioned some people or other non –government organizations if school receive donations, For them it is a form of corruption ,but the reality is some government officials is the one who is the corrupt one. We must face the reality that government funds is not sufficient to support different schools that’s why we need support from other agencies. 4. Appropriations for Education Department of Budget and Management or DBM allocatesfund for a certain school whether it has autonomy or not. These budgets were divided depends on the numbers of enrollees per school. Government also allocates fund for the Teachers tools, equipments, lesson plan, and classrecords , salaries and bonuses and incentives. Education is free, according to the Deped Memorandum. They allocated fundsfor Education but the big problem is, the higher ranking person did not distributed that funds to different divisions, instead of they corrupt that funds. That’s why DepEdis number2 in Corruption 5. On the Need for Reform Our Educationsystem needs a reformation, in order to make our graduates be competitive enough. Reform will start on the top down to the lower ranking position. Reformation willlead us tothe better world, better society and better graduates. Reformation not only in Educational system but also in the society, most especially in our government presently. Reform in policies, avoid corruption, because new ideas, new curriculum, and helpus tobuild mind of a graduates professionally growth.

Confucius Curry and a Mountain Dew Essay -- Culture

As Americans, we ridicule others based on their selection of clothing. We are snobby because of how much money we make or what we hold as an occupation. We chew with our mouths full of macaroni and curse when the soda machine is out of Pepsi. We could use some manners, or maybe just a reintroduction. Confucius thought is constructed on kindness and propriety, as well as holding the morally virtuous to be the ideal person. This philosophy exceedingly expresses value in benevolence, education, and the treatment of other people, but has hidden innuendos that would knock the petals off any flower child. In this reflection paper, I will dabble with how incorporating Confucius thought and practices would help in some areas of American society, but shun the validity of others. Money Over Everything The definition of the American Dream fluctuates from person to person, but can ultimately lead to a broad basis: With hard work and dedication, one can achieve success. And with success, comes happiness. We strive for happiness. In this journey, most come to understand that a college education is the key to becoming knowledgeable, and knowledge is important in becoming successful. Therefore, going to college can lead to success, right? Not a difficult concept to grasp. With the staggering rates of tuition bills and the dwindle of job availability, it would seem the path to success narrows each day. Those with money to cover these costs aren't usually too worried about their debts, seeing as they could squash them like ants. In America, our education is highly valued, but the value of education is incredibly too high. Confucius was not around for colleges and technical institutions, so the subject matter of his teachings did not include di... ... (Spring 2012 Edition), Edward N. Zalta  (ed.), URL = . 3.) Dawson, Miles. "Ethics of Confucius." . sacred-texts.com, 10/2007. Web. 17 Apr 2012. . 4.) . "Philosophy 312: Oriental Philosophy Main Concepts of Confucianism." Oriental Philosophy. N.p., 09/2000. Web. 17 Apr 2012. . 5.) Richey, Jefferey. "Gender and Sexuality." Religion Library: Confucianism. Patheos, 2012. Web. 17 Apr 2012. . 6.) Fader, Hallie. "The Chinese Legal Tradition." Rule of Law: The Story of Human Rights in World History. ORIAS, 07/2004. Web. April 17 2012. .

Robert Frost :: essays research papers

It has been said many times that all men have a common bond, or a thread that joins them together. Robert Frost ¹s poem  ³The Tuft of Flowers ² explores the existence of such a bond, as experienced by the speaker. In the everyday circumstance of performing a common chore, the speaker discovers a sense of brotherhood with another laborer. Frost contrasts a sense of aloneness with a sense of understanding to convey his theme of unity between men. To understand the setting of the poem, one must first understand how grass was mowed in the time period in which the poem was written (1906). Grass was mostly mowed by hand using a scythe. The mowing was often done in the dew of the morning for better mowing. This left the grass wet, and it needed to be scattered for drying. The phrase turning the grass refered to the scattering of the grass for drying. In  ³The Tuft of Flowers, ² the speaker has gone out to turn the grass. Whoever did the mowing is already gone, for there are no signs of his presence. The speaker is alone. Then, a butterfly catches the speaker ¹s attention, and leads his gaze to a tuft of flowers, which the mower chose to leave intact. The patch of beauty left by his fellow worker causes the speaker to feel that he is no longer alone. There is a sense of understanding between the speaker and the mower, because an appreciation of beauty unites them. Frost uses peaceful images to relate the feeling of his poem. The setting is in a grassy field with a brook running through it. The tranquil feeling is added to by a silent butterfly, who searches for a flower upon which to land. In keeping with the peaceful surroundings, Frost speaks of a long scythe  ³whispering to the ground, ² and of hearing  ³wakening birds around. ² The speaker also listens for a whetstone  ³on the breeze ² to determine if there is anyone around, and finds a  ³leaping tongue of bloom ² beside the  ³reedy brook. ²  ³The Tuft of Flowers ² does not contain a definite meter, but it does have a strict rhyme scheme of AA, BB. The poem is organized in couplets, each of which contains a single thought. This makes the poem more charming and gives it simplicity, which adds to the overall feeling of peace and tranquility. Robert Frost provides many interesting ideas in  ³The Tuft of Flowers.

Comprehensive Annual Financial Report Briefing Essay

The purpose of this brief is to educate the newly elected board members on government accounting. Because the new board members are businesspeople from the community, they need to understand why government accounting is not the same as for-profit financial accounting. The brief will compare government accounting to for-profit financial accounting, describe the basic government reporting entity, and evaluate the Management Discussion and Analysis section of the Comprehensive Annual Financial Report (CAFR) for the State of Alabama. The State of Alabama’s fiscal year ended September 30, 2011 will be used in the evaluation of the MD&A section (Office of the State Comptroller, 2011). Governmental Accounting vs. For-Profit Financial Accounting Governmental accounting is not the same as for-profit financial accounting. Therefore, it is necessary that individuals employed in government entities have a good understanding of budgeting and accounting. Governments and for-profits have different purposes, activities that generate revenues, stakeholders, financial objectives, and desire to survive. Separate accounting and financial reporting standards are necessary because users of financial reports of governments and for-profits do not have the same needs (GASB, 2012). Governments are required to be accountable for the use of resources in their operating environment, unlike for-profit businesses. Governmental resources are acquired from the guaranteed payment of taxes paid by individual taxpayers. The taxes paid have no direct relationship to the services the taxpayer received. Therefore, taxpayers assess the value received from the resources they have provided to government. As a result, governmental accounting and financial reporting standards strive to help stakeholders evaluate if public resources are properly expensed and if the capacity of services improved or worsened from the previous year (GASB, 2012). Government Reporting Entity Identifying the accounting entity is one of the most important  accounting issues. The financial reporting entity is the primary government and its component units. The primary government can be either a state, local, or special government. Component units are official separate organizations in which elected officials of the primary government are held financially accountable. A component unit and a primary government are dependent to one another. Their relationship is necessary to ensure that the reporting entity’s financial statements are not misleading or incomplete (Copley & Engstrom, 2011). State and local governments are advised to prepare a Comprehensive Annual Financial Report (CAFR). A CAFR should cover all funds and activities of the primary government and its component units. The CAFR consists of three parts: introductory, financial, and statistical. The Introductory Section of the CAFR includes the table of contents, letter of transmittal from the government’s Finance Director, list of government officials, and an organizational chart (Copley & Engstrom, 2011). The financial section includes an independent auditor’s report, management’s discussion and analysis, government-wide financial statements, fund financial statements, financial statements notes, and any other required supplementary financial information. Last, the statistical section includes additional financial, economic, and demographic information (Office of Financial Management, 2012). By combining all three sections into one comprehensive report, the CAFR reveals the state government’s financial and operating activities that define its financial condition. Management’s Discussion and Analysis In June 1999, the GASB issued a statement requiring government entities to include the Management Discussion and Analysis (MD&A) within the CAFR. The MD&A discusses issues related to government entities, such as financial performance, capital resources, and budget trends, in regard to its financial position. The MD&A gives the government an opportunity to present an overview of its financial activities. This section contains most of the basic financial statements. Auditors are responsible for reviewing the financial material to verify that the information is correct (Copley & Engstrom, 2011). The State of Alabama’s MD&A provides useful financial highlights to CAFR users and the public. At the end of September 30, 2011, Alabama’s net assets increased by $335 million and exceeded liabilities by  $24.1 billion at the end of the fiscal year. By reviewing the financial highlights, a user can gather information about the state’s six major funds that operate the government for Alabama. The General Fund and Education Trust fund were prorated by 15 and 3 percent, respectively because collection did not meet the projections outlined in the budget. Users also can access the state’s basic financial statements, which consist of government-wide financial statements, fund financial statements, and notes to the financial statements. Because the MD&A performs its analysis using financial conditions based on the balance sheet, statement of revenues, expenditures, and changes in the funds balance, the CAFR is more understandable to its users (Department of Finance: Office of the State Comptroller, 2011). Conclusion The CAFR is an annual financial statement issued by a state or local government to represent its financial position. There are noteworthy differences between for-profit and governmental accounting. Understanding these differences is fundamental when measuring management’s performance and the financial success or failure of the entity. The organization is accountable for its success or failures because of the information presented in the organization’s CFAR. Furthermore, the MD&A provides a more comprehensible outline of management’s breakdown and impacts of governmental activities on the financial situation of the organization. References Copley, P., & Engstrom, J. (2011). Essentials of accounting for governmental and not-for-profit organizations (10th ed.). New York, NY: McGraw-Hill. Department of Finance: Office of the State Comptroller. (2011). Comprehensive Annual Financial Report for the Fiscal Year ended September 30, 2011. Retrieved from http://comptroller.alabama.gov/pdfs/CAFR/CAFR.Ala.2011.pdf GASB. (2012). Why Government Accounting and Financial Reporting is – and should be- Different. Retrieved from http://www.gasb.org/white_paper_full.pdf Granof, M. H., & Wardlow, P. S. (2011). Core Concepts of Government and Not-for-Profit Accounting (2nd ed.). New York, NY: Wiley & Sons. Office of Financial Management. (2012). Comprehensive Annual Financial Report. Retrieved from http://www.ofm.wa.gov/cafr/

Motivation for Colonization essays

Motivation for Colonization essays Many people suffered for the colonization of the new world settlement. Two early regions for settlement were, Chesapeake and New England. Although both are British, they differ greatly in their motivation for colonization, socio-economic status, and personal retreat for religion. Keep in mind survival for the colonists was nearly impossible. Diseases, such as malaria, plagued colonies killing thousands, as well as famine and the cold of winter. Many merchants in 1606, under the rule of King James I, believed that there was much profit to be made in the new world. They were correct. King James ordered two companies for another attempt at settlement, Virginia company and Plymouth company. These Joint Stock companies sold shares to investors to raise money for Britian's expedition to the New World. First attempts at settlement in 1607 proved much hardship for the new land owners. It wasn't until 1609 that the colonist began to prosper; they learned the cultivation of tobacco. Export of tobacco boomed the colonists market. Soon more labor in the colonies were needed to harvest such large cash crops. Indentured servants were sent from Britian to help boost the economy by harvesting these crops, as well as, their settlement in the new world. New England, on the other hand, was sought out for religious freedom from the Anglican church, or the Church of England. The Anglican church was plagued with corruption under the rule of Queen Elizabeth. Protestant reformers known as puritans and pilgrims fled Britain in hopes to "bear witness to their Puritan fate." Puritans wanted to reform the Church of England, by moving to the New World, creating new churches to serve as a model for English reform. Pilgrims on the other hand were separatists and felt that the corruption of the English Church was irreversible. ...

White Fang †Book Review

White Fang – Book Review Free Online Research Papers White Fang is a Fictional story that was written by Jack London. This book is based in the late 1800’s, in the Canadian territory of Yukon, during the Klondike Gold Rush. I decided to read this book because I thought I would be something that interested me. Which it did I enjoyed reading this book not only because you never knew what was going to happen next and it kept you wanting to know the out come. The book starts off w/ two stories that eventually come together as one. White Fang, who is  ¾ wolf and  ¼ dog, has a lot of challenges after his mother is taken from him when he was just a puppy. He has to deal with people that never show him affection, to cruel people who hurt him till he finally finds someone who loves him and treats him good and takes care of him but he is put threw a lot before he gets there. He starts off living with Grey Beaver who took his mother from him and when he tried to follow and go with his mother he was beaten to learn what grey beaver thought was a lesson. Grey Beaver is an Indian who used white fang as a working dog. Mit-sah who was Grey beaver son was in charge of training white fang to be a working dog, so from the time he was a puppy they trained him to work. Later on Grey Beaver gets an alcohol addiction and one day trades white fang just so he can get some whiskey. Beauty Smith who traded White fang using trickery and alcohol was a cruel man and wanted white fang because he thought he could make him money by being in dog fights. He was very mean to white fang because he wanted to make him vicious so he would jab in with a stick and leave him in a small cage and not feed him. Soon he got him to where he was a vicious animal that no one could be around and he had him fighting and killing dogs. One day white fang was fighting a bulldog named Cherokee, and it was the first dog that had dominated white fang and almost killed him until a man named Weedon Scott came in and broke it up. He then pays Smith off and threatens to have him thrown in jail and then takes white fang with him. Weedon Scott is a patient and compassionate man who is from southern California. He takes white fang with him to be his dog but it takes a while for white fang to warm up to him because he is so used to being beaten and abused that he is still a vicious dog. After time with Scotts compassion towards white fang he soon learns to appreciate a human being and show them love and affection. Soon Weedon Scott realizes he must return home to California. Since he knows he can’t take white fang back with him he leaves him in the cabin. When they arrive to the ship to go home they see white fang sitting on the deck and figure he must have jumped out the window and followed them and snuck on the boat. Then Scott realizes the dedication that white fang has towards him so he decides just to take him home with him. Once the get to California they can tell white fang is very nervous because he is hearing new sounds and seeing things he has never seen before when he was in the wild. He had a lot of problems at first because things he could once do he couldn’t anymore. He soon warmed up to the family and got used to be a domesticated dog. Research Papers on White Fang - Book ReviewBook Review on The Autobiography of Malcolm XThe Spring and AutumnWhere Wild and West MeetThe Hockey GameThe Masque of the Red Death Room meaningsCapital PunishmentHarry Potter and the Deathly Hallows Essay19 Century Society: A Deeply Divided EraHonest Iagos Truth through DeceptionQuebec and Canada

Critical essay on Crime and Punishment by Fosknor essays

Critical essay on Crime and Punishment by Fosknor essays The Civilian Verses the Military Justice System The Civilian Justice System and the Military Justice System differ in many ways. There are different factors considered in both systems based on the offense that has been committed. The comparison of the two systems is both amazing and sometimes very frustrating to other people that think justice is or is not served. In the state of Delaware, an individual can be punished in the following ways for the possession of marijuana: Any person who, on any single occasion, knowingly sells, manufactures, delivers or brings into this State, or who is knowingly in actual or constructive possession of, in excess of five pounds of marijuana is guilty of a class B felony, which felony shall be known as "trafficking in marijuana". If the quantity of marijuana involved is one of the following the individual is subject to be punished in the following manner: a. If the amount of marijuana is in excess of 5 pounds, but less than 100 pounds, the person shall be sentenced to a mandatory minimum term of imprisonment of 3 years and to pay a fine of $25,000 b. If the amount of marijuana is 100 pounds or more, but less than 500 pounds, the person shall be sentenced to a mandatory minimum term of imprisonment of 5 years and to pay a fine of $50,000. c. If the amount of marijuana is 500 pounds or more, such person shall be sentenced to a mandatory minimum term of imprisonment of 15 years and to pay a fine $100,000. If a military member is charged with possession of marijuana in any amount, the member can received one or more of the following punishments: a. Letter of reprimand, if the amount is in the amount of ounces. The letter of reprimand can be accompanied with a reduction in grade and a fine up to 3 months of the members base pay. a. If the amount is one pound or more, the member is subject to court martial and could receive a dis...

Computer Information System Essay Example | Topics and Well Written Essays - 750 words

Computer Information System - Essay Example Organizations can't survive with working in international markets with out the help of databases and computers. In an environment where competition is tough they need to carry on communications with the help of computers and keep records on databases. As more and more people turn towards environment friendly products due to awareness, organizations are compelled to turn their attention towards product of the kind that are environment friendly. Organizations got to know about this by the help of databases that showed these trends according to the records. The most important use of databases in business is to keep a track record of history about the business. This not only helps in formulating strategies by studying the past trends but also helps executives in making important decisions that are related to the organizations. A database keeps the record in relevance to its dependency and gives results that are used to deduce conclusion as to why and how something happened. For example a drop in sales due to the packing of a product might be missed by a manager, but the database can easily point it out by showing that the drop in sales started as soon as the packaging of the product was changed. As I mentioned above the reasons for using databases to conduct day-to-day operations of a business, the same case is in my organization. We use databases in order to have an edge over our competitors, to become reputable in our sector of the business and to earn profits. Reasons apart from these are also related to the implementation of databases, these include satisfying the customers to the maximum in order to enhance the business operations and to keep a track of the customer so as to study the trend of his or her behavior that helps us in giving the customers what they really want. Our organization uses the one of the most successful database application, which is easy to implement and user friendly for the employees. The name of the database application is Oracle. This software is being used widely by organizations all over the world to help in running successful business. The main function of this database application is to enable the workers here to store, change and manipul ate data in the database using queries. The database application gives us the added advantage of comparing data and suggesting future trends, which helps the organization in formulating perfect strategies. The users are first trained to handle the database though its easy but our firm makes sure that all the people interacting with the database through the database appl

Mrketing orienttion in reltion to sles orienttion nd production Essay

Mrketing orienttion in reltion to sles orienttion nd production orienttion - Essay Example Pillsbury on the bsis of vilbility of high-qulity whet nd proximity of wter power. Mjor concern ws with mnufcturing-not mrketing. ccording to compny executive, compny philosophy in the er of mnufcturing dominnce might be stted s follows: "We re professionl flour millers. Blessed with supply of the finest North mericn whet, plenty of wter power, nd excellent milling mchinery, we produce flour of the highest qulity. Our bsic function is to mill high-qulity flour, nd of course (nd lmost incidentlly), we must hire slesmen to sell it, just s we hire ccountnts to keep our books." The second er ws one of sles orienttion. In the 1930's, competition hd become more significnt nd the problems of reching the mrket hd grown much more complex. Compny officils becme somewht wre of consumer wnts nd needs, nd formed commercil reserch deprtment to develop fcts bout mrkets. More ttention ws given to strengthening the distributing orgniztion, consisting of wholesle nd retil grocers. Compny philosophy in this er is described s follows: "We re flour milling compny, mnufcturing number of products for the consumer mrket. We must hve first-rte sles orgniztion which cn dispose of ll the products we cn mke t fvorble price. We must bck up this sles force with consumer dvertising nd mrket intelligence. We wnt our slesmen nd our delers to hve ll the tools they need for moving the output of our plnts to the consumer."third er of mrketing orienttion did not begin until the erly 1950's. The compny hd experienced substntil post-World Wr II sles growth in new products, principlly cke mi xes. It relized tht it could produce hundreds of new products, nd fced the necessity of selecting the best ones. It ws considered essentil to build into the compny orgniztion new function which would coordinte the heretofore seprte compny responsibilities of selling, dvertising, mrketing reserch, nd product plnning, nd provide guidnce for other res. This function ws clled "mrketing," nd mrketing developed the criteri for determining which products to mrket. Emphsis shifted from mnufcturing nd mere sles considertions to determintion of which products would best fit the needs of the compny's customers. Compny policy for the 1950's ws stted s follows: "We mke nd sell products for consumers."mrketing oriented firm is now defined s n "orgniztion culture tht most effectively cretes the necessry behviors for the cretion of superior vlue for buyers nd, thus, superior performnce for the business." (Nrver nd Slter, 1990, p. 21) This definition implies tht the firm needs to understnd buyer nee ds nd competitive cpbilities nd weknesses, nd it needs to perform ctivities gered to chieving superior customer stisfction. The firm's corporte culture is systemticlly committed to creting customer vlue. The rtionle is tht the more compny understnds nd meets the rel needs of its consumers, the more likely it is to hve hppy customers who come bck for more, nd tell their friends. This process cn entil the fostering of long term

Biotechnology case study Research Paper Example | Topics and Well Written Essays - 1000 words

Biotechnology case study - Research Paper Example I have to consider several aspects of a product before authorizing the company’s staff to start its producing or manufacturing. As a company, which is known for its environmental friendliness, the company has to embrace new technology that will ensure that all products that the company produces are environment friendly. This will be done while still maintaining the integrity that the company has with its customers relating to the quality and workability of the product put in the market. This paper answers some questions regarding my decision as the CEO and the founder of the company. I have considered a variety of issues before I deciding whether or not to purchase the new fabric. The decision that I make at this point will have tremendous effects on the future of the company. These considerations include; 1. The environmental impact- the process of manufacturing the new product has managed to remove all wastewater in the manufacturing process, which was generated when using the original chemical. However, there will be generation of wastewater when the customers wash the new garments repeatedly. Small, but significant amounts of the genetically modified compound are most likely to wash off during the cleaning process; this wastewater could then flow and find its way into the local water treatment factories, plants and waterways (Agathos 90). 2. Long-term environmental problems- the environmental assessment department of the company has continued to address the issue of the long-term effects of the new product and the health issues that it might cause. Little is known on the long-term effects of the product (Agathos 90). 3. Weakness in the company’s marketing campaign- the marketing department has made emphasis that include anti-odor treatment in the product line, which will help in the elimination of the clear

Financial Management And Analysis Assignment Example | Topics and Well Written Essays - 4000 words

Financial Management And Analysis - Assignment Example Interests in entrepreneurship and study within the field of entrepreneurship have risen, even though the aim and direction of the research has diverted. In recent research, there is great focus on the entrepreneurial operation on firm level within organizations, than on entrepreneurship by people. Great economists insist that the renewal of the economic system is sensitive as it is important for a competent and a competitive economic growth and development. It is effective for old ideas being substituted by new ones and that old products and services are replaced with those that are modern and more effective. In various organizations development and entrepreneurship of new commodities and have become major dimensions in the strategies (Bygrave and Zacharakis, 2011). It not, only important for the new internet entrepreneur to support the process of new product development but also utilize the old or long time ideas. This can only be a success by a well-structured financial management system that blends new and old ideologies and create a balance that brings out the best returns to the internet business for selling academic materials. According to various research activities within the analysis of financial management and entrepreneurship should be done through effectives methods of management. The objective of this study is to show the current operation of financial management in firms with various entrepreneurial point of reference. There is also a purpose to compare how the financial management systems are designed and used in firms with different levels of entrepreneurial experience. The focus is found on various selected sectors of the financial management analysis system with the basis of incentives programs. With these concepts, the new entrepreneur in the internet business for marketing educational stuffs in the website and use appropriate financial management principle. The results show that there exist some

Key drivers affecting health care organizations and the U.S. health Essay

Key drivers affecting health care organizations and the U.S. health care delivery system - Essay Example This paper will briefly discuss these issues, and find out how these reforms may positively affect key players in the healthcare system. One of the main drivers affecting healthcare organizations is cost. The cost of care in most healthcare organizations in the United States is considered to be the key driver affecting the manner in which most organizations operate. At the moment, countless people are not able to acquire quality medical attention due to its high cost (Garber & AHA, 2006). It is true that the cost of healthcare provision is going higher and not many people are capable of acquiring the effective and quality healthcare they desire. The second driver is the increase in need for healthcare employees. There is no question about the recent spell of reducing healthcare workers in the United States, which presents a tremendous challenge to the healthcare sector. Current and future implications of these drivers lie in the fact that patients may not get what they truly desire from the healthcare organizations or healthcare delivery systems. It is next to impossible to fully provide for a changing environment when negative progress riddles a system that is meant to cater to a large population. Furthermore, a reduction in healthcare workers means that a shortage looms in the horizon, which implies that countless other patients may receive the short end of the stick when it comes to efficient healthcare provision (Buchbinder & Shanks, 2011). One change that countless people would want enacted is the recruitment of more healthcare workers in the region. Also, a reduction in the cost of healthcare services may be a reform that most people would want to see enacted. These changes are crucial to the patient because, in the long run, they would be able to pay for the services they urgently need. Furthermore, they will not necessarily have

Financial Management And Analysis Assignment Example | Topics and Well Written Essays - 4000 words

Financial Management And Analysis - Assignment Example Interests in entrepreneurship and study within the field of entrepreneurship have risen, even though the aim and direction of the research has diverted. In recent research, there is great focus on the entrepreneurial operation on firm level within organizations, than on entrepreneurship by people. Great economists insist that the renewal of the economic system is sensitive as it is important for a competent and a competitive economic growth and development. It is effective for old ideas being substituted by new ones and that old products and services are replaced with those that are modern and more effective. In various organizations development and entrepreneurship of new commodities and have become major dimensions in the strategies (Bygrave and Zacharakis, 2011). It not, only important for the new internet entrepreneur to support the process of new product development but also utilize the old or long time ideas. This can only be a success by a well-structured financial management system that blends new and old ideologies and create a balance that brings out the best returns to the internet business for selling academic materials. According to various research activities within the analysis of financial management and entrepreneurship should be done through effectives methods of management. The objective of this study is to show the current operation of financial management in firms with various entrepreneurial point of reference. There is also a purpose to compare how the financial management systems are designed and used in firms with different levels of entrepreneurial experience. The focus is found on various selected sectors of the financial management analysis system with the basis of incentives programs. With these concepts, the new entrepreneur in the internet business for marketing educational stuffs in the website and use appropriate financial management principle. The results show that there exist some

Catholiicism Assignment Example | Topics and Well Written Essays - 250 words

Catholiicism - Assignment Example This prompted many natives in dedicating themselves to serving church rather that working. This is due to the then priests’ intensive evangelization for many of them were energetic and enthusiastic, which triggered vigor not only among the entire clergy but also among Catholics. Hence, this led to significant changes that conveyed difference from the 20Th era up to date assuming ethnicity and pluralism. Ethnicity encompasses an internal state of irrespective of numerous State churches comprising a single American Catholic. This is because of numerous immigrants who relocated to America each based on own ethnic group differed significantly with the other including their own credence regarding Catholics. Hence, giving rise to conflicts on whose way of worship was acceptable way of being Catholic (Albanese 71). The force was so strong that they even fought to maintain their identity similar to Irish in 19Th era. Pluralism refers to peripheral state of one church being among numerous denominations. Although Catholic comprises the minority, it poses a threat to Protestants due to demonstrations and nativist (Albanese 76). This was evident in 1834 whereby due Nativism incidence churches incurred great loses due to destruction through torching. This is because both Protestants and Catholics intended were at loggerheads whereby each intending to lead in America in terms of masses. Consequently, this prompted a catholic archbishop conceive the idea of coming up with Catholic System schools. Centrally to the initial state of evangelization by Catholics together with many becoming nuns, the onset of 20Th era was quite different. This is because of reduction of nuns as many people preferred material gain that came with white-collar jobs; hence, they saw vows regarding chastity and poverty being too demeaning. This is evident to date whereby numerous Catholics only attend church during Holy days like Good Friday, which is an

The Bet Essay Example for Free

The Bet Essay In the story â€Å"The Bet† by Anton Chekhov, the lawyer and the banker make a bet, which is better solution capital punishment or life imprisonment. The banker then bet two million dollars that the lawyer would not stand five years in a room alone with no means of communication except through a small hole, but the lawyer said he would stay in the room for fifteen years and with that, they closed the bet. For fifteen years, the lawyer stayed in the room reading and learning new things and on the last night before the day he retakes his freedom and his two million dollars, the banker tries to sabotage the lawyer by trying to kill him. However, after reading the letter that the lawyer wrote he stopped and cried. The next morning, five minutes before the bet was over the lawyer ran away and lost the bet and the banker kept the letter that the lawyer wrote and locked it in his safe. The author Anton Chekhov talked about the moral value of human life and the consequences it bears, such as capital punishment and life imprisonment. When the banker and the lawyer argued about what punishment is better, it showed how they do not take the value of human life seriously. This led them to make the bet. The author then presents a form of foreshadowing. When he wrote life imprisonment, it showed what happens to one of them and it did. The bet was that the lawyer should stay confined in room for fifteen years and it similar to life imprisonment because the lawyer would feel the same way a prisoner would feel living his life in prison. The story gives you unexpected ending because of what the lawyer decided to do in the end. The banker who can be described as an over-excited, arrogant man started to put up the bet against the lawyer. The author shows that the banker is conceited that he was sure that he could get the better of the lawyer, however the story does not end that way. Anton Chekhov showed the weak side of the banker, which is that he, would not be able to accept if the lawyer won the bet. This quote, The only escape from bankruptcy and disgrace is that the man should die, clearly shows the cowardly trait of the banker because with his desperation of winning, he would go in so much trouble to kill the lawyer just so he would not lose his money. In addition, this concludes that his self-value of the moral value of human life have reached their all time low.

Analysis Of BMW Financial Position And Performance Accounting Essay

Analysis Of BMW Financial Position And Performance Accounting Essay This is a financial analysis report on BMW. Specifically, in the first part of this report, the financial position and performance of BMW for the four financial years from 2008 to 2011 will be firstly re-formulated, and the financial ratios for the company will be computed for analysis purposes. In order to perform a throughout financial analysis on the company, the trends of the financial ratios of BMW will be analyzed. Then, the financial statements of Audi will also be reformulated and the respective financial ratios for Audi will also be computed. The financial performance of Audi will be used to compare to the performance of BMW, to gauge the relative performance of BMW, as compared to one of the peer within the industry. Then, in the second part, BMWs forecasted value of equity per share at the end of the fourth financial (i.e., at FY 2011) will also be computed. Recommendations will be provided if the stock is a good investment choice, based on the various findings derived fr om this study. 1.2 Company Background Today, BMW is the worlds best-selling manufacturer of premium cars (Rauwald, 2012). BMW is founded in 1916; and is headquartered in Munich, Germany. Today, the company has more than 96,000 workforces at 24 production facilities in 13 countries and had penetrated to around 140 countries in the world (Avery Bergsteiner, 2011). BMW is also a company emphasizing on corporate social responsibilities (Stamoulakis Bridwell, 2009). Some of the competitors of BMW include Audi and Mercedes-Benz, whereby these companies has also been competing with BMW in important markets such as China (Rauwald Pearson, 2011a). Referring to Table 1 below, the various business segments BMW is operating within is shown. The major revenue contribution of the company comes from selling automobiles, and then followed by car financing activities. Table 1: The Various Business Segments BMW Operating Within Source: Worldscope Table 2 below however shows the various geographical regions BMW is operating within. As shown from the figure, the revenue generated from BMW sales in China is improving fast, while the revenue generated from the United States are stagnating. Indeed, prior to the financial crisis, United States is the biggest market for BMW (Rauwald, 2010). In contrast, as discussed in Muller (2010), BMW growth in recent years had largely driven by the increase of sales from emerging countries. This is a trend worth acknowledging in analyzing the current financial performance and to predict the future probable performance of the firm. Table 2: The Various Geographical Region BMW Operating Within Source: Worldscope Part I: Analysis of BMW Financial Position and Performance In Part I, the financial analysis on BMW will be performed through two major methods, firstly by reviewing the trends of the financial metrics of BMW and its competitor; and secondly, through the review of various financial ratios of BMW and to compare the ratios to the competitors ratios. 2.1 Trend Analysis A Review of BMW Past Performances 2.1.1 Profitability Ratios Based on Table 3 below, the various profitability ratios of BMW are shown. As measured by the Return on Assets, Return on Equity and Return on Invested Capital, BMW performance is generally well-performing in FY2007, but subsequently suffered to a minimal profitability in FY2008 towards FY 2010, before returning to superior profitability situation in FY2011. This is not surprising. In FY2008, the world financial crisis hit, and the automotive industry, which is cyclical in nature, are impacted adversely (Peterson, 2008). Indeed, the entire automotive industry fall into a turmoil as auto sales have plunged in the United State and Europe; while sales faced stagnation in previously booming markets like China and India (Rauwald, 2009b). In 2009, as discussed within Rauwald (2009a), BMW suffered losses due to recession as the sales and demand of luxury cars stalled. This is logical as in recessionary period, people cut down spending and luxury product manufacturers are often the most im pacted as the product demand are highly elastic. Then, qualitatively speaking, in FY 2010, the profitability improvement in BMW is due to improved efficiency significantly in all areas of the company (during the restructuring programme of BMW in the global financial crisis) as well as favourable exchange-rate fluctuations for the company (Rauwald, 2010). Next, Rauwald Schmidt (2012a) had however attributed the significant enhanced of BMW performance due to the companys comprehensive transformation, via cutting jobs and costs since 2007 (which include a cut of more than 8,100 jobs and reduction of more than 6 billion Euros in costs). This is also true as based on the employee per sales figure, the company is showing positive improvement as in recent years, more sales are generated per employee. Aside from that, it is also observed that the ratio of research and development to sales ratios has also been high, approximately around 5%. This is because BMW has been investing in research and development activities for further innovations in the future. For example, one of the recent innovations of BMW is development of eco-super car through the Vision Efficient Dynamics concept (Kable, 2010). Overall, based on the profitability ratios, a gross profit margin of 24% and the Return on Equity ratio of 19.2% in the recent years suggest that BMW is a well performing firm. Nonetheless, the fact that the firm could be seriously affected by recession also suggests that the business is cyclical, and therefore, the business risk faced by the firm and investors could be high. Table 3: Trends of Profitability Ratios of BMW Source: Worldscope 2.1.2 Asset Utilization Ratios Based on Table 4 below, the various asset utilization ratios, such as assets per employee, total assets turnover, inventory turnover and net sales to gross fixed assets are shown. Overall, there is a trend of improvement on these ratios. As discussed in Rauwald Schmidt (2012b), the strong performance of BMW is primarily contributed by the strength of the BMW, MINI and Rolls-Royce brands as well as improvements in efficiency. The improved of efficiencies can be noted as the assets per employees had increased (i.e., fewer employees as compared to the total assets), and the higher total assets and inventory turnover ratios (as the company is more able to generate more sales from every unit of asset). Table 4: Trends of Asset Utilization Ratios of BMW Source: Worldscope 2.1.3 Leverage Ratios Based on Table 5 below, the trends of use of debt financing and capital structure of BMW are shown. Overall, it can be noticed that BMW is a highly geared firm, as the long term debt within the capital structure has been consistently high throughout the past few years, i.e., at approximately 60%. Then, the portion of debt is also far outweigh the portion of equity, and as indicated by the total debt to common equity ratio, the total debt is approximately more than 2 to 3 times the total amount of equity. Overall, this suggests that BMW is heavily leveraged and the firm would face higher finance risks (such as solvency, liquidity and interest payment risks) in hard times. In contrast, the firm would make high return on equity for the shareholders due to use of leverage. Therefore, part of the reasons contributing to the high return on equity for BMW is through the use of high leverage within the firm. Table 5: Trends of Leverage Ratios of BMW Source: Worldscope 2.1.4 Liquidity Ratios Based on Table 6 below, the various liquidity ratios such as quick ratio and current ratio are shown. Overall, the liquidity position of BMW is marginally satisfactory, as the current and quick ratio fall around the range of 1. A more conservative ratio would be a current ratio of more than 2 times. Then, it is also noted that throughout the years, the proportion of receivables in the current assets is the highest, followed by cash, and then inventories. This is however unavoidable, as most of the customers would purchase the luxury cars on credit. Table 6: Trends of Liquidity Ratios of BMW Source: Worldscope 2.1.5 A Review of the Financial Performance Trends of BMW In order to form an overview of the financial performance of BMW in the past few years, the general profitability picture of BMW is presented in Figure 1. As shown below, prior to the crisis, BMW has been in a rising profit position for more than a decade (Avery Bergsteiner, 2011). However, unfortunately, the firm performance is badly affected during the global financial crisis (as discussed previously). During the period of financial crisis, the net income, return on equity and total common equity fall sharply. Nevertheless, upon the crisis, the profitability of BMW surged sharply. Avery Bergsteiner (2011) had found that one of the reasons contribute to fast BMW recovery from the global financial crisis in 2008 is due to sustainable leadership model and processes within the company. Therefore, this suggests the resiliency and the quality of the management within the firm as satisfactory and competent. Then, another trend worth discussing is that in the recent years, BMW car sales have been increasing significantly in the China market (Rauwald, 2012). Indeed, as discussed within Schafer (2011), much of the sales increases of BMW come from the growth of sales from China and India. Such a trend had contributed significantly as even in FY2011 and FY2012, BMW sales in Europe are facing challenges due to sovereign debt crisis (Rauwald Pearson, 2011a). Similarly, as discussed within Schafer (2011), the sales of BMW cars are slow in Europe due to the slow recovery within the region. Figure 1: Net Income, Equity, ROE and ROCI Trends of BMW C:Documents and SettingsHappyGoLuckyDesktopData Collectiondatareturn analysis chart.jpg Source: Worldscope 2.2 Peers Financial Ratios Comparisons In this section, in order to understand the financial position and the performance of BMW in the context of its industry as well as in relation to its peers, the various financial ratios of BMW, the peers and one of its leading competitors, namely Audi will be performed. 2.2.1 Growth Rates related Ratios As shown in Table 7, the various growth rates of BMW is compared to the peers and Audi. Firstly, it is noted that the growth of sales of BMW is slightly worse than the growth of Audi, but significantly worse off than the peers. In other words, both Audi and BMW are performing less satisfactorily as compared to the industry average. Therefore, while the financial picture of BMW is recovering and experiencing sharp upturns in FY2011, the firm is actually down perform as compared to the industry average. Table 7: Trends of Growth Rates of BMW, Audi and Peers Company BMW AG Peer Mean Audi AG Last Fiscal Yr End Date 12/31/2011 12/31/2011 Key 1 Year Growth Rates Sales 1Yr Growth 13.80 22.22 24.42 Operating Income 1Yr Growth 53.21 47.75 57.09 Net Margin 1Yr Growth 32.92 104.88 36.41 Net Income 1Yr Growth 51.26 149.43 69.72 EPS 1Yr Growth 51.12 146.47 69.73 Total Assets 1Yr Growth 11.71 14.54 19.56 Equity 1Yr Growth 13.11 8.58 13.72 Key 5 Year Growth Rates Sales 5Yr Growth 7.03 15.17 7.20 Operating Income 5Yr Growth 16.39 23.44 14.71 Net Margin 5Yr Growth 3.92 7.76 18.21 Net Income 5Yr Growth 11.22 23.09 26.72 EPS 5Yr Growth 11.21 21.35 26.72 Total Assets 5Yr Growth 9.18 12.25 14.00 Equity 5Yr Growth 7.17 9.09 11.83 Source: Thomson One Banker As shown in Table 8, the figures of growth rates of several financial metrics are also computed, from the reformulated financial statements (as shown in Appendix at the end of this document). Overall, it can be observed that both Audi and BMW financial performance move in tandem, whereby the good performance of both company tend to be happen at the similar time. For instance, the growth of sales was negative for both of the firm at FY2009. Then, the growth rates of common shareholder equity also tend to be similar in terms of magnitude. For example, the growth rate of shareholder equity has been slight negative or positive at FY2009. However, the growth rate of operating income (after tax) for both the company tend to be less similar. This could be due to the operational management differences between the two firms. Table 8: Trends of Growth Rates of BMW to Audi Profitability R 2009 2010 2011 Growth Rate in Sales BMW -4.73% 19.33% 13.80% Audi -12.74% 18.77% 24.42% Growth Rate in OI (after tax) BMW 352.36% -20.66% 49.91% Audi -43.17% 128.13% 60.40% Growth Rate in NOA BMW 31.36% 13.02% -10.94% Audi 10.86% 47.64% -4.07% Growth Rate in CSE BMW -1.79% 15.94% 17.18% Audi 2.62% 9.30% 13.72% Source: Computed from Reformulated Financial Statement 2.2.2 Profitability Ratios As shown in Table 9, the profitability related ratios for BMW, peers and Audi are shown. Overall, the profitability margins of BMW would be slightly lesser than that of the Audi (particularly from the net margin perspective), but would be higher than that of the peers. This is because BMW operate within the luxury car segment, and therefore, the margins would be higher, as the majority of other competitors go for the volume for profitability. Therefore, the asset turnover of BMW and Audi is lower significantly than the peers, as the company focus on the luxury niche segment. Aside from that, it could be seen that the RD expense to sales ratio for BMW (and Audi) is higher than that of the peers. For this, one of the successes of BMW comes from investing heavily in extra production capacity and new technology constantly (Rauwald, 2012). Table 9: Profitability Related Ratios for BMW, Peers and Audi Company BMW AG Peer Mean Audi AG Last Fiscal Yr End Date 12/31/2011 12/31/2011 Asset Turnover 0.57 0.85 1.25 Pretax Margin 10.73 13.70 ROA 4.37 13.86 Return on Invest Cap 5.62 34.13 Reinvest Rate 13.25 37.59 35.68 R D to Sales 4.90 3.43 5.09 Gross Profit Margin 24.62 19.45 18.57 Operating Profit Margin 11.42 6.92 9.54 Pretax Margin 10.73 13.70 Net Margin 7.09 9.95 Source: Thomson One Banker Table 10 is about the profitability ratios of BMW and Audi, computed from the reformulated financial statements (as shown in Appendix at the end of this document). Overall, it can be seen that Audi would perform slightly better than BMW, although from the net profit margin perspective, BMW outperform Audi in FY2010 and FY2011. Then, it is also observed that the financial margins of BMW are more volatile as compared to Audi. Therefore, the risks (from the standard deviation perspective) for BMW are higher. Nonetheless, as discussed before, BMW is performing well in terms of cutting down the expense. This can be observed as the portion of administration costs to the sales ratio for BMW has been decreasing from FY2008 towards FY2011; whereby the ratio for Audi had been staying relatively constant (around 8-10%). This reaffirm that BMW had been slowly transform itself into a more efficient organization. Table 10: Trends of Profitability Ratios of BMW to Audi 2008 2009 2010 2011 Operating Profit Margin BMW 0.95% -0.09% 5.71% 8.03% Audi 5.27% 3.43% 6.59% 8.50% Sales Profit Margin BMW 1.95% 9.27% 6.17% 8.12% Audi 5.27% 3.43% 6.59% 8.50% Other Items Profit Margin BMW 0.00% 0.00% 0.00% 0.00% Audi 2.82% 2.86% 2.87% 2.90% Net Profit Margin BMW 1.25% 0.13% 5.23% 7.75% Audi 6.46% 3.52% 3.07% 5.91% Expense Ratio Admin Costs BMW 9.59% 9.91% 7.98% 7.83% Audi 9.47% 10.52% 8.57% 8.16% Expense Ratio Distribution Costs BMW -0.21% 0.10% 0.24% 0.50% Audi 0.88% 1.01% 1.06% 0.97% Operating Profitability (RNOA) BMW N/A 14.55% 9.55% 14.27% Audi N/A 12.48% 21.87% 30.03% Financing Profitability (RNFA) BMW N/A 0.70% 0.98% 1.37% Audi N/A 5.07% 5.54% 9.98% Source: Computed from Reformulated Financial Statement 2.2.3 Asset Utilization ratios Table 11 is about the asset utilization related ratios for BMW, Audi and peers. Overall, BMW down perform both Audi and the peers from asset turnover and inventory turnover perspective. Indeed, Audi perform best in utilizing assets in generating revenue. This shown that BMW may not be effective to the peers and Audi in leveraging on the assets to generate sales, and there are much room for improvement to significantly enhance the asset utilization ratios for the firm. Table 11: Asset Utilization Related Ratios for BMW, Audi and Peers Company BMW AG Peer Mean Audi AG Last Fiscal Yr End Date 12/31/2011 12/31/2011 Asset Turnover 0.57 0.85 1.25 Inventory Turnover 5.11 8.52 8.85 Source: Thomson One Banker 2.2.4 Leverage Ratios Table 12 is about the comparisons of leverage related ratios between BMW, Audi and peers. Obviously from the figure of the industry mean score, it can be noticed that most of the automotive manufacturers are highly geared. Indeed, as it is discussed that BMW is a firm that relied heavily on debt instrument for financing its operations, the industry average figure is even higher. In stark contrast, Audi is a lowly leveraged firm. Indeed, the use of debt is very minor within the firms capital structure. Table 12: Leverage Ratios Related Ratios for BMW, Audi and Peers Company BMW AG Peer Mean Audi AG Last Fiscal Yr End Date 12/31/2011 12/31/2011 Total Debt to Common Equity 245.94% 250.96% 9.39% LT Debt to Common Equity 133.58% 146.61% 0.17% LT Debt to Total Capital 56.96% 41.23% 0.16% Dividend Payout 17.46% 15.80% 0.00% Cash Dividend Coverage Ratio 7.13 21.08 #N/A Source: Thomson One Banker In Table 13 below, trends of leverage ratios of BMW and Audi, computed from the reformulated financial statements (as shown in Appendix at the end of this document) are presented. Similar to the discussions presented above, the financial leverage ratio of BMW is significantly higher than the case of Audi. However, from the operating liability leverage ratio perspective, the figures of the two firms are roughly comparable. Table 13: Trends of Leverage Ratios of BMW to Audi 2008 2009 2010 2011 Financial Leverage Ratio (FLEV) BMW 0.299 0.414 0.413 0.410 Audi 0.256 0.198 -0.128 0.054 Capitalization Ratio BMW 1.378 1.843 1.796 1.365 Audi 0.781 0.844 1.140 0.962 Operating Liability Leverage Ratio (OLLEV) BMW 1.093 0.663 0.645 1.011 Audi 1.479 1.381 1.058 1.268 Source: Computed from Reformulated Financial Statement 2.2.5 Liquidity Ratios In Table 14 below, the liquidity related ratios for BMW, Audi and peers are compared and presented. It is noted that the liquidity position of BMW, as measured from all of these ratios, i.e., quick ratio, current ratio, cash and equivalent to current assets ratio, account receivables days as well as inventories days held are not only down performing the peers, but also perform much badly as compared to the situation of Audi. Indeed, Audi is having strong liquidity position, thereby indicating that the firm is unlikely to suffer from any near term liquidity issues. Audi had also outperformed the peers significantly and based on the findings above that Audi is a lowly geared firm; the firm is financially conservatively managed. Table 14: Liquidity Related Ratios for BMW, Audi and Peers Company BMW AG Peer Mean Audi AG Last Fiscal Yr End Date 12/31/2011 12/31/2011 Quick Ratio 0.82 1.00 1.32 Current Ratio 1.04 1.28 1.60 Cash Equivalent to Current Assets 23.52 32.24 41.13 Accounts Receivable Days 136.25 102.07 61.22 Inventories Days Held 71.44 48.60 41.24 Source: Thomson One Banker 2.2.6 Summary Overall, while BMW is a profitable firm, and the firm is performing very well in FY2011 (i.e., experiencing sharp recovery) such performance can be largely attributed to the industry wide recovery situation around the world. However, the performance of BMW would seem to be lacking, more risky and less efficiently, effectively and conservatively managed when compared to the peers. This is particularly when compared to Audi, as Audi had found to be having much stronger and yet conservative financial position and performance. It can be summarized that BMW performed unsatisfactorily as compared to the other automotive manufacturers. Part II: Valuation In this section, valuation of BMW stock will be performed via the discount cash flow model. In order to compute the company value via this method, the dividend distributed to the investors will be treated as the proxy of the cash flow to the investors. Currently, the latest dividend payment from BMW is EUR 2.30 (Figure 2, the indicated dividend payment from the management). Then, from Figure 3, the growth rate of the dividend yield/ payment (i.e., the growth rate of the cash flow of the firm) range from 0.23% (i.e., 3-years growth rate) to 1.01% (i.e., 3-years growth rate). Theoretically, the longer term growth rate should be used. However, the global financial meltdown in FY2008 to FY2009 would be considered as anomalies (the black swan event), and therefore, it is unfair to take the three year average figure for the firm. Therefore, conservatively, a growth rate of 0.5% would be assumed to represent the growth rate of dividend payment for the investors. Then, in order to compute th e required rate of return for BMW, the risks pertaining to the firm will be considered. As BMW is found to be highly geared, a required rate of return of above 10% would be necessary. Therefore, conservatively speaking, a required rate of return of 15% is justifiable. Hence: D = EUR 2.30 g = 0.5% r = 15% Firm value = D (1+g) (r-g) = 2.3 (1+0.005) (0.15-0.005) = 2.3 (1.005) (0.145) = EUR 15.94 Therefore, a very conservative firm value for BMW from the dividend discount model (i.e., Gordon Growth Model valuation method) is only EUR 15.94. This is even much lower than the analysts target price of EUR 75.60 (Figure 2). Therefore, from the valuation method applied, it is unwise to purchase into BMW stock. Figure 2: Estimates from Analyst C:Documents and SettingsHappyGoLuckyDesktopUK0538 Advanced financial statement analysisData Collectiondatathomson forecast report.jpg Source: Thomson Financial Figure 3: Estimates from Analyst C:Documents and SettingsHappyGoLuckyDesktopUK0538 Advanced financial statement analysisData Collectiondatastock valuation.jpg Source: Thomson Financial In Table 15 below, the price multiple of BMW, peers and Audi is shown. It is shown that BMW stock prices is valued at 10 times earnings multiple, as compared to Audi (which is only 5 times earnings multiple). Indeed, from the other two yardsticks, namely price to book value and price to cash flow ratios, BMW stock is valued more expensively. Then considering that the financial position and performance of BMW is significantly lower than the peers, and particularly, to Audi, the high price multiples of BMW would justify a sell comment on the stock. Table 15: Market Value Related Ratios for BMW, Audi and Peers Company BMW AG Peer Mean Audi AG Last Fiscal Yr End Date 12/31/2011 12/31/2011 Current P/E Ratio 10.17 5.15 Price/Book Ratio 1.84 1.33 1.81 Price/Cash Flow Ratio -11.10 1.94 3.34 Source: Thomson One Banker Then, from the qualitative perspective however, looking forward, competition between automotive manufacturers in China could be intensifying and this could affect how BMW compete with other car manufacturers (Rauwald, 2012). However, some analysts had also been optimistic as they anticipate growth in markets such as China and Russia which would contribute to higher BMW sales in these emerging regions (Rauwald Schmidt, 2012a). Then, as discussed in Reed Schafer (2010), the rise of sales in China is primarily due to the branding and the quality of the cars sold by BMW. Therefore, the growth story of BMW in emerging regions would be in doubts, as the competitors, such as Audi has also strong performance in these emerging regions. Therefore, from a more conservatively perspective, it is reasonable to conclude that even it is expected that BMW could profit from the emerging countries, which would also not justify the high valuation of the stock. Hence, it is not rational to purchase i nto the stock of the company at the current price. In contrast, investors seeking exposure to automotive industry would be better to purchase the stock of Audi, as the firm is financially conservatively and operational effectively managed, and yet, having a low price multiple. References Avery, G. C., Bergsteiner, H. (2011). How BMW successfully practices sustainable leadership principles. Strategy Leadership, 39(6), 11-18. Kable, G. (2010). Bolts from BMW. Autoweek, 60, 12-12. Muller, J. (2010). BMWs push for made-to-order cars. Forbes, 1. Penman, S. H. (2010). Financial Statement Analysis and Security Valuation, 4th Edition. McGraw-Hill Irwin, New York. Peterson, T. (2008). BMW 135i: High performance, low price. Business Week (Online). Rauwald, C. (2009a). Corporate news: BMW posts loss as unit sales fall 21%. Wall Street Journal. Rauwald, C. (2009b). Corporate news: BMW swings to $1.24 billion loss as luxury-car sales plunge. Wall Street Journal. Rauwald, C. (2010). Luxury demand drives BMW results. Wall Street Journal (Online). Rauwald, C. (2012). BMW, Porsche profits rise on higher sales. Wall Street Journal (Online). Rauwald, C., Pearson, D. (2011a). Corporate news: BMW cranks up profit view luxury-auto maker gains on emerging-market demand as European woes damp peugeot-Citroen. Wall Street Journal (Online). Rauwald, C., Pearson, D. (2011b). BMW raises sales, profit forecasts. Wall Street Journal (Online). Rauwald, C., Schmidt, N. (2012a). Managing careers: For BMW, a tough transformation pays off. Wall Street Journal (Online). Rauwald, C., Schmidt, N. (2012b). For BMW, a tough transformation pays off; no grand prix cars, but pole position in luxury market gives CEO reithofer a happy start to the new year. Wall Street Journal (Online). Reed, J., Schafer, D. (2010). Demand for luxury powers BMWs China sales. Financial Times. Schafer, D. (2011). BMW receives sales turbo-charge from China and India. Financial Times. Stamoulakis, D., Bridwell, L. (2009). BMWs approach to global warming and environmental management: Corporate social responsibility or greenwashing? Competition Forum, 7(1), 98-106. Subramanyam K. R., Wild, J. J. (2009). Financial Statement Analysis, 10th Edition. McGraw Hill, New York.

America Needs More Immigrants Essays -- Immigrants Immigration Persua

America Needs More Immigrants America is sometimes referred to as a "nation of immigrants" because of our largely open-door policy toward accepting foreigners pursuing their vision of the American Dream. Recently, there has been a clamor by some politicians and citizens toward creating a predominantly closed-door policy on immigration, arguing that immigrants "threaten" American life by creating unemployment by taking jobs from American workers, using much-needed social services, and encroaching on the "American way of life." While these arguments may seem valid to many, they are almost overwhelmingly false, and more than likely confused with the subject of illegal immigration. In fact, immigrants actually enhance American life by creating, not taking jobs, bolster social service funds through tax payments, and bring valuable technical knowledge and skills to our country. If we are to continue to excel as a nation, the traditionalists who fear an encroachment of foreign-born Americans must learn to ac cept that we achieved our greatness as a result of being "a nation of immigrants." Â  A common argument among those opposing further immigration is that foreigners take U.S. jobs and cause unemployment among the displaced American workers. In the July 13, 1992 edition of Business Week , a poll states that sixty-two percent of non-blacks and sixty-three percent of blacks agree that "new immigrants take jobs away from American workers." This is a widely held, if erroneous belief, among Americans. However, Julian L. Simon, author of The Economic Consequences of Immigration , states: immigration does not exacerbate unemployment...Immigrants not only take jobs, but also create them. Their purchases increas... ...cent more likely...to have post-graduate educations" than Americans, according to Simon. The traditionalists opposing immigration must recognize our lives are enhanced by their knowledge and education, and that in order to "preserve our nation", they must realize we are a "nation of immigrants" and let others prove their worth. Â  The issue of immigration must be dealt with rationally, not emotionally. Facts, figures, and statistics must be studied by both sides in order to reach a decision most beneficial to our nation. Our lives are enhanced by the new jobs created by immigrants, the social service funds bolstered by their tax payments, and the valuable technical skills and knowledge brought with them. These benefits far outweigh any negative effects and prove the value of immigrants as they pursue the American Dream in our "nation of immigrants." Â  

Monasticism And The Code Of Chivalry :: essays research papers

Monasticism and the Code of Chivalry In the Middle Ages, there were many factors contributing to the building of monasticism. One of the most important components of the fourth century came when the Christians believed that Jesus would return very soon. So they did not care what the world did to itself. Instead they waited for Jesus to fix things, but it did not happen. This caused the world to become a violent place to live. Christians were persecuted for their beliefs by the Roman Government. The Christians had enough and were ready to leave. Some Christians went to a place where they could have communion in peace without the fear of the Roman government, this place was Egypt. They were called hermit monks. But others, Christians, had their ideas of the way that a Christian life should be lived. They wanted to live in a community, so they could worship together as a group instead of being alone. Benedict of Nursia established a rule that was used by most of the monks as a way of life. In this there were three specific vows, they are used to make it easier for monks to be closer to God. They are poverty, chastity, and obedience. Poverty meant that the need for money and material possessions were not needed as a means of worship. The monasteries gave the monks the things that they needed, and this was only the bare essentials. The monasteries made their own money by owning land and selling surplus products. Thus, they became very wealthy. Chastity meant that the men and women would not have sex or get married. This was said to have saved the monks from the "devilish acts" that happen when sexual desires were exploited for selfish reasons. Obedience was essential, each monk had to be absolutely obedient to their abbot. The purpose of this obedience was to develop personal humility, and to become more holy by becoming humiliated or less proud of one's self. Only making them worship and become closer to God. The monasteries were a place to get away from evil and anything to deter them from God. The Code of Chivalry means, if you own a horse than you can have wealth or power in the Middle Ages. As there are more people with horses, the tension gets tighter and tempers are flared, this is how elite soldiers and knights are

Institutional racism: it is real Essay

Power, wealth, and prestige. These are elements that humanity has been striving for since the age of man. Inherent in these objectives is struggle. Who shall be dominant? To whom shall the prevailing structure of society be based? In modern society the power, wealth and prestige has been the blanket that wraps Western European culture. Out of the hubris has emerged a backlash of outrage that many from different racial groups have expressed over the disproportionate number of power positions (CEOs, VPs, owners of football clubs, to owner’s of the local pub) that are Western European. This has become a standard or defined norm of rightness and often righteousness wherein all others are judged in relation to it. This norm is reinforced through institutional and economic power. It is the combination of these elements that makes complete power and control possible. Introduction Power, wealth, and prestige. These are elements that humanity has been striving for since the age of man. Inherent in these objectives is struggle. Who shall be dominant? To whom shall the prevailing structure of society be based? In modern society the power, wealth and prestige has been the blanket that wraps Western European culture. Out of the hubris has emerged a backlash of outrage that many from different racial groups have expressed over the disproportionate number of power positions (CEOs, VPs, owners of football clubs, to owner’s of the local pub) that are Western European. This has become a standard or defined norm of rightness and often righteousness wherein all others are judged in relation to it. This norm is reinforced through institutional and economic power. It is the combination of these elements that makes complete power and control possible. It is important to remember that an established norm does not necessarily represent a majority in terms of number; it represents those who have ability to exert power and control over others (Axelson, 1998). What is Institutional Racism? This type of power dominance is called institutional racism (IR). IR has its roots in racism which has many definitions: Racism: Attitudes, practices, and other factors that disadvantage people because of their race, color or ethnicity. Racism can be directed against any race, color or ethnicity. Some examples of racism are obvious, such as graffiti, intimidation or physical violence. Racial and ethnic slurs and â€Å"jokes† are other examples. Unfortunately, they are often ignored because people do not know how to deal with them. Other forms of racism are not obvious, such as discrimination in hiring and apartment rentals, or policies that disadvantage members of certain races, whether intentionally or not. Racism exists at three main levels: individual, institutional and cultural. (http://www. rose-hulman.edu/safezone/glossary. html) or Racism: The intentional or unintentional use of power to reinforce prejudice to isolate, separate, exploit and disadvantage other racial groups based on a belief in superior racial origin, identity or supposed racial characteristics. Racism is more than just a personal attitude; it is the systemic or institutional form of that attitude. Prejudice + Power = Racism. (http://www. lsuagcenter. com/en/administration/about_us/Human_Resources/Diversity_Center/dictionary/index. htm#R) or Racism: 1. An act of discrimination based on an ideology of racial superiority. 2. The institutionalization of collective prejudice resulting in a system of advantage based on one race having power over others. This subordination is supported by the actions of individuals, cultural norms and values, and the institutional structures and practices of society. (http://principles. ucdavis. edu/glossary. html#R) Institutional racism has just as many definitions: Institutional Racism – The conscious and/or unconscious belief in the superiority of the dominant racial group that manifests itself in the inclusion of other dominant racial group members and the exclusion of other racial group members. (http://www. lsuagcenter. com/en/administration/about_us/Human_Resources/Diversity_Center/dictionary/index. htm#I) or Institutional racism: The network of institutional structures policies, and practices that create advantages and benefits for Whites, and discrimination, oppression, and disadvantage for people from targeted racial groups. The advantages created for Whites are often invisible to them, or are considered â€Å"rights† available to everyone as opposed to â€Å"privileges† awarded to only some individuals and groups. (http://www. purchase. edu/Diversity/dictionary.aspx) or Institutional Racism: (Systemic Racism) Racism conveyed in practices, customs, rules and standards of organizations, including governments, that unnecessarily disadvantage people because of their race, color or ethnicity. They do not always involve differences in treatment. Educational requirements that are not related to actual job duties are an example. (http://www. rose-hulman. edu/safezone/glossary. html) Relevance of Institutional Racism The above definitions that define racism and institutional racism are varied in the context of their language. However, their ideas are inclusive, similar and are all correct depending on who uses that definition. A much more comprehensive definition of institutional racism would be: The intentional or unintentional use of power to reinforce prejudice to isolate, separate, exploit and disadvantage other racial groups based on a belief in superior racial origin, identity or supposed racial characteristics. conveyed in practices, customs, rules and standards of organizations, including governments, that unnecessarily disadvantages people because of their race, colour or ethnicity. They do not always involve differences in treatment. This subordination is supported by the actions of individuals, cultural norms and values, and the institutional structures and practices of society. Other forms of racism are not obvious, such as discrimination in hiring and apartment rentals, or policies that disadvantage members of certain races, whether intentionally or not. [name of student] The question that needs to be asked is, â€Å"Just how relevant in today’s modern society is institutionalized racism? † Look around and see who has key positions in the world’s various multinational companies. Take a look at sports teams and see who has ownership. Observe who is on the cover of the majority of magazines and look at who we follow as our cultural icons. Without the use of numerical and empirical studies and only utilizing the gift of sight it can be pronounced that the majority who has these positions are Western European. IR occurs when the structure of an organization, political system, or business allows racist attitudes to be integrated in its system. Such trends may occur within an institution without their intentional injection or inclusion within that institution. Examples of IR: people of colour under-represented and misrepresented on television, racially biased standardized tests used to determine who will be admitted to higher education programmes and institutions, reliance on low-paying immigrant labour by farms and factories. A branch of IR called â€Å"the glass ceiling† is one of the most pervasive forms of institutional racism (Massingale). The glass ceiling refers to the general tendency for the existence of an upper limit in the high ranks of corporations, above which it is rare for a minority to appear. The Federal Glass Ceiling Commission, an American produced report states that only 29 percent of the nation’s work force is made up of white males, while those individuals hold 95 percent of corporate senior management positions (Massingale). One extremely controversial example of institutional racism is racial profiling. This involves creating a portfolio and list of criteria that is used by law enforcement to identify perpetrators.

Duties and Responsibilities Essay

As everybody know, to be responsible and accomplish with your duties, is one of the most important things around the world in the labor area. Without being responsible and do whatever you are supposed to do, practically, you are out of your job. As and future officer of the United States Army, we must know which ones are our duties and responsibilities in order to accomplish them and make our team look sharp and right. Due to constants changes in the army, we never know which position we or our fellow soldier are going to occupy. Thus, here you will see the duties and responsibilities of leadership positions from company commander to squad leader in order to make the reader understand why is so important to know what, when, where and why is your position so important. The company commander or CO is one of the most important positions in a company. The CO is responsible for everything the company does or fails to do, as an all. The CO is responsible for the training, discipline, administration and welfare of the soldier/ cadets in the company. He or she is the one who will receive the warning order (WARNO), formulates operation order (OPORD), creates plan and time line for every activity to do, supervise all trainings and coordinates with the cadre for detailed instructions. The CO leads by personal example and influence others to accomplish their duties and responsibilities. The executive office or XO is the second in command in a company. He or she primary role is to assist the commander in mission planning and accomplishment. The XO frees the company commander from routine details and passes pertinent data, information and insight to the commander and ensures suspense’s are met by the platoon leaders. In addition to that the XO is responsible for the safety and risk assessment of all company events, thus, prepare OPORD’s safety paragraph. The XO performs all other duties as assigned by the company commander. The first Sargent or 1SG, just like the company commander is the responsible for everything the company does or fails to do. Usually is the most experienced soldier/ cadet in the company. The 1SG is the commander’s primary tactical advisor and expert on individual and NCO skills. The 1SG helps the commander plan, coordinate and supervise all activities that support the company or unit mission. He or she writes and presents paragraph IV (Service and Support) of the company OPORD, makes necessary announcements at PT and at lab, responsible for gathering all accountability and sending it up the chain of command, keeps company training running according to the time line, makes sure all information is disseminated to the PSGs and has accountability at all times and supervises PSGs and SLs. The platoon leader or PL is the responsible for the entire platoon does or fails to do. In the conduct of duties, consults platoon Sargent in all matters related to the platoon. The PL leads platoon in supporting higher headquarters missions, looks ahead to the next move for the platoon, requests and controls supporting assets and issues accurate and timely reports. In addition to that the PL places self where most needed to accomplish the mission and understands the mission and commanders’ intent two levels up. The platoon sergeant or PSG is usually a senior NCO in the platoon and second in command. The PSG sets the example in everything and is the responsible for the care of personnel, weapons and equipment in platoon. As second in command, the PSG assumes duties as assigned by the PL. In addition to that, ensures platoon is prepared to accomplish mission, prepares to assume the role and responsibilities of PL, acts where best needed to help mission command the engagement, organize platoon formations and control movement of the platoon. The squad leader or SL is the responsible for all the squad does or fails to do, directs team leaders and leads by personal example. The SL has authority over subordinates and overall responsibility for those subordinates’ actions and is responsible for the care of personnel. In addition to that, the SL ensure the squad is in proper uniform with proper equipment for training,  lead a supervise the squad, personally prepare and inspect the squad for all missions, keep squad accountability and report to the PSG, control movement of the squad, prepare and submit reports and prepare and issue the squad OPORD. In conclusion, it does not matter what position we are going to occupy, we need to make that our fellow soldiers are doing what they have to do. The duties and responsibilities of every single leadership position is based on take into consideration that a leader is supposed to know and understand their people. He or she knows their strengths and weaknesses as well as what motivates and frustrates them. So, in order to be successful and accomplish all our obligations, first, we need assume our position, always seeking for the welfare of our team.

Scholarship Essay Example | Topics and Well Written Essays - 500 words - 4

Scholarship Essay Example The most valuable thing I learned during the first year of my study is that practice makes perfect. Unfortunately, I did not success much during the first year, but, as we know: â€Å"you must spoil before you spin†. I feel myself a wonderer on the background of knowledge horizon that was opened to me by my teachers, that is why it is too hard for me to choose my major. Nevertheless, I hope that my long-term considerations would bear fruits to my future deliberate choice of specialization. I am sure that I will succeed and I am ready to work hard. In my life I am following the next principle: it is necessary to get at the root. Thus, the fact that I chose Solbridge International School of Business and Master’s Degree in MBA is very important for me. Business Administration is a filed of my future practicing. I am making my choice gradually, focusing on the most important facts and moving to the least ones. I hope, there are many members of committee, who would restore in their memories their student years and agree with me that it is not so easy to choose one’s major. We make this choice once and for life. Of course, there are people who cannot find themselves during all their lives, but I have used to make well-considered decision in order to hit the mark. My dear Alma Mater, my appreciation of you has no limits! Please, do not be too severe with your child. We love our children both for their ups and downs and my failure during the first year does not mean that I am a bad student. It means that I could not react properly at once and did not appreciate my scholarship. I just took it for granted. Now I see that my scholarship is your trust and your hope for me. I promise I will not let you down, Solbridge International School of Business, Sweet Solbridge International School of

The scorecard measures Between Toyota&Peugeot Essay

The scorecard measures Between Toyota&Peugeot - Essay Example The organizational profits but also the response of the customers to a firm’s strategic decisions indicate the ability of the organization to identify plans that are aligned with the market trends. The role of various factors in a firm’s performance has been extensively studied in the context of management accounting. A series of management accounting techniques has been developed in order to help firms to measure their performance, either in the short or the long term. Current paper focuses on the potential use of Balanced Scorecard, an accounting technique developed in 1990 by Kaplan and Norton, for measuring the performance of a well known, organization: Toyota. Reference is made to potential scorecard measures under each of the four headings of the balanced scorecard that could be applied to Toyota. At the next level, two alternative strategic management techniques are suggested for another well-known firm of the global automotive industry, Peugeot, at the level tha t these techniques could possibly help the organization to measure its performance more effectively. The performance of both, Toyota and Peugeot, is compared with reference to these firms’ potential to apply effectively their strategies. Peugeot is more prepared in order to face the challenges of the global market, a fact that is related to the firm’s ability to avoid failures when measuring its performance. 2. Balanced scorecard as related to the just-in-time technique in Toyota The just-in-time technique used in Toyota is based on the following principle: waste must be controlled, as possible. For this reason, in Toyota efforts are made so that the following philosophy is applied: the volume of the firm’s products is decided in accordance with the level of the existing orders (Toyota, Production system, 2012). In order to be able to respond quickly to new orders, the firm promotes the following strategies: all parts required for the vehicle ordered are availab le in the assembly line, so that the production of the vehicle can proceed with no delay (Toyota Production system 2012). After using certain parts for producing a new vehicle, the assembly line has to replace these parts so that its stock is kept at a specific level, a fact that secures the readiness of the firm’s production units to respond quickly to new orders (Toyota Production system 2012). The above technique could be analyzed using the Balanced Scorecard (Figure 1, Appendix). The Balanced Scorecard is consisted from four parts: ‘Customer, Internal Processes, Employee Learning and Growth and Financial’ (Niven 2006, p.13). A series of potential scorecard measures under each of the four headings of the balanced scorecard as they could apply to Toyota are presented below. 2.1. Customer The relationship between the firm and its customers has faced severe challenges the last decade mostly because the continuous failures in the firm’s products. It is expe cted that customers’ loyalty has been decreased, a problem that should be faced by the organization with no delay. A measure should be developed by the organization for estimating the level of customer loyalty and the level of customer satisfaction in regard to the firm’s products worldwide. The firm would initiate a survey among its customers worldwide; the views of the firm’s existing customers on the quality of the firm’

Common Law - business Assignment Example | Topics and Well Written Essays - 1250 words

Common Law - business - Assignment Example Respondeat superior and quifacit per alium facit per se are the two principles that vicarious liability is based on. According to respondeat superior, a superior is responsible for the acts committed by his subordinates. Quifacit per alium facit per se means that if someone does something through another, then he does it through himself (Giliker, 2010). The rules that the court applies in deciding if the blame for a tortuous act can be shifted from the employee to the employer are: Control Test: Was the employee under the control of the employer when the tortuous act was committed? Control is the key characteristic that the court will consider. The employer must have the control and the ability to exert authority over the employee. That is the employer controls the actions of the employee’s work. He must instruct the employee on what to work on and how to work on. Control, authority and direction are necessary liability conditions (Giliker, 2010). Employment Test: An employer will only be liable to acts of employees and not independent contractor. That is, employees have a ‘contract of service’ while an independent contractor will have a â€Å"contract for service’. Course of employment: Employer is liable only if the tort was committed in the course of the employment. That is the blame can be shifted from the employee to the employer if the tortuous act was authorised by the employer or the authorised act was done in a wrongful way (Smith & Thomas, 2007). 3b. Occupier’s liability act of 1957: This act deals with the liability of the occupier to the lawful visitors. The act treats all visitors as a single entity irrespective of them being invitees, contractors and licensees. It is not applicable to illegal visitors such as trespassers. It imposes duty of care on the occupier. According to the act, an occupier is one who has reasonable control on the premises and must have had the ability to avoid or prevent the danger. Common Duty of Care: An occupier owes a common duty of care to all legal visitors wherein care must be taken by the occupier to ensure that the visitor is safe in using the premises for which he was invited under all reasonable circumstances (Harpwood, 2008). Warnings: Occupiers are not held liable if harm is caused to a visitor if he/she had been warned about the danger. The visitor under all circumstances must be able to avoid the danger based on warnings. But apart from warnings extra care must be taken if the danger is unusual or extreme (Harpwood, 2000). Children and professional exercising their duty: Exceptions are made to children and persons who are exercising a skill or trade. With children, the occupier must ensure that children are safe considering the fact they are less careful than adults. For Example, in Glasgow Corpn v Taylor (1922) a child died after eating poisonous berries from a bush in a public park. The bush was not fenced and hence did not take care in safeguarding c hildren. The occupiers were held responsible (Harpwood, 2000). With persons exercising their duties the occupier can expect the person to be aware of special risks associated with the skill. For example, an electrician repairing an electric socket must be aware of the danger of dealing with electrical equipment and must be careful in dealing with it. Independent Contractors: The occupier cannot be held liable if the danger or harm is caused by the work of an independent contractor

Film Review Essay Example | Topics and Well Written Essays - 250 words

Film Review - Essay Example t and only movie I have seen to have shown the mindless portrayal of blonde people, only to have the blonde actually prove herself to all her detractors. This movie in effect, empowers the blondes to break out of the mold and show the world that the color of one’s hair does not define intellect or personality. Legally Blonde was first shown in cinemas in 2001 and starred Reese Witherspoon as Elle Woods, the titular blonde. Based on the novel by Amanda Brown, Director Robert Luketic helmed the picture that also starred Luke Wilson, Selma Blair, Victor Garber, Jennifer Coolidge, Holland Taylor, and Ali Larter. In the movie, Witherspoon plays Elle Woods, a typical blonde who seems to be an airhead but proves to be knowledgeable about more than just fashion once given a chance to shine in the courtroom. Although shot along the vein of Clueless, another dumb blonde triumphs movie, Legally Blonde stands alone in its genre as being the first movie of its kind to have pushed its female lead to succeed in order to prove a point to those who had been putting her down because of her hair color and its accompanying stigma. With the resurgence of female empowerment movies in our present day, it is important to note that Legally Blonde was not just trying to deliver the basic point that anything a man can do, a woman can do better. Instead, this film has proven to be intelligent in its own right. Not once does the film ever veer into sexual joke territory. Although the plot is ridiculous to most people, the comedic timing of those acting in the film is simply divine. Not a single joke ever fell flat nor lost its meaning. The movie dares to tackle serious issues relating to the trials and tribulations of people who do not fit into a certain social mold or opinion. Elle is the embodiment of every woman who has found herself in such a situation. Finding herself on the receiving end of bullying at Harvard Law School, Elle manages to teach a lesson along her way to discovering

Strategic Cultural Interventions at Wal-Mart Research Paper

Strategic Cultural Interventions at Wal-Mart - Research Paper Example It is against this backdrop that Louis (1980) is quoted by the Air University (2003) as explaining that organizational culture is â€Å"a set of understandings or meanings shared by a group of people that are largely tacit among members and are clearly relevant and distinctive to the particular group which are also passed on to new members†. The discussions above point to the fact that the organizational culture of an organization cannot be over emphasized, overlooked or underestimated in any way. As much as possible, all corporations and organizations must make it a prime priority of achieving a socially and commercially welcoming organizational culture. Because of this, this essay has been set out to critically look into the organizational culture of Wal-Mart Company, looking at the company’s present organizational culture and evaluating how the present culture has impacted on the successes of the company and if any, suggest the way forward for the company in terms of its organizational culture. Current Organizational Culture Giving a clear cut definition or description of the organizational culture of Wal-Mart may be very difficult. This is because the public and especially the media tend to portray the company and many different ways. These ambiguities not withstanding, careful review of literature and scrutiny of media reports point to some common characteristics that run through the company and can therefore be generalized to be the company’s organizational culture. In the first place, Wal-Mart has and believes in the culture of respect. The company portrays a high sense and level of respect for all its stakeholders including customers, suppliers and associates. The company also practices an open door system of governance whereby there is an open communication channel for all stakeholders; especially customers and suppliers to get their ideas through. There also is what the company refers to as the Sundown rules. With this culture, th e company answers to requests even after the company’s usual closing hours. This is done in a bid to foster the culture of respect for meeting the customer at the point of his or her needs. Finally, there is an assumed and supposed servant leadership culture at Wal-Mart whereby it is said that Sam Walton, founder of Wal-Mart said that â€Å""It's more important than ever that we develop leaders who are servants, who listen to their partners – their associates – in a way that creates wonderful morale to help the whole team accomplish an overall goal,†Ã¢â‚¬  (Wal-Mart, 2011). Assessment of the current organizational culture of Wal-Mart using Deep Assumption Model Having discussed the organizational culture of Wal-Mart above, this section of the write-up shall be used to give deep assumptions interpretations to assess the current organizational culture of the company. Cummings and Worley (2009) explain that deep assumptions are very important because they r epresent the deepest levels of an organization’s culture that is generally unexamined. These assumptions shall be considered because as Cummings and Worley (2009) put it, they are â€Å"tacit and shared assumptions that guide member behavior and that often have a powerful impact on organization effectiveness.† Among some unexamined assumptions behind the culture of Wal-Ma